CBI accuses Nirav Modi of hiding 50 cartons of documents in PNB fraud case

By

Isabelle Crossley

Published
May 23, 2018

The Central Bureau of Investigation (CBI) has recorded statements from two witnesses in the Punjab National Bank (PNB) fraud case claiming that Nirav Modi had 50 cartons of documents hidden in a conspiracy to remove evidence.

The CBI interviewed two employees of Modi’s jewellery business as part of its investigation into the fraud case. The witnesses, a Junior Accountant named Rahul Sisodiya and an Office Boy named Ravindra Dinkar Hindelkar, gave statements that also provided details about evidence being removed by Modi’s employees as soon as the probe into the alleged fraud began in February.

Sisodiya said in his statement: “On February 14, 2018, Miten Pandya [an employee of Modi who was arrested by the CBI], instructed me, Ravindra and other two to three office boys of Firestar Group, to shift the documents, which included the office copies of applications of LoUs [letters of undertaking] and other items viz. stationery, rubber stamps etc. lying in the office of Diamonds R US. There were about 50 to 60 cartons of documents that needed to be shifted.” Hindelkar also corroborated this account. The CBI has also obtained statements from six people, farmers and unemployed persons, who were made partners in Nirav Modi’s companies for a monthly remuneration.

The CBI has now been able to recover the documents and the employee Vipul Ambani has been accused of being behind the document hiding. The documents pertained to three of Modi’s companies, namely Diamonds R US, Stellar Diamonds, and Solar Exports.